"There's a lot less land to roam" - why White Rock established off-grid mining in Texas

"The United States is where the action is in terms of markets, so we plan to be in at least two other states as well as Texas with a diverse offering,” said CEO Andy Long.

Amid many cryptocurrency mining companies in Texas scaling back operations to reduce the load on the power grid, at least one company has installed miners that aren't as affected by the state's power needs in extreme heat.

In June, White Rock Management expanded its crypto mining operations to Texas – its first in the US – but announced that its facility in the Brazos Valley region would mine Bitcoin (BTC) using “responsible” methods. for the environment". While the company's mining operations in Sweden used hydroelectric power, White Rock CEO Andy Long told Cointelegraph that its Texas facility was "off the grid," powered only by natural gas that would otherwise be burned.

"The United States is where the action is in terms of markets, so we plan to be in at least two other states as well as Texas with a diverse offering; not everything will be out network," Long said.

The CEO of White Rock says major storm systems capable of knocking out power — which Texas has had no shortage of in the age of crypto — played a part in the company's decision. company to rely on flared gas for mining, but said it would explore "a mix of different energy sources" as it expands to different US states, including hydropower and nuclear. According to Long, the Texas facility would have 10 megawatts of capacity "in a month or two" and had already surpassed a total hash rate of 1 exahash per second.

New York was a less attractive option for White Rock to expand into the United States first, given that the regulatory environment “sent the wrong message,” according to Long. State legislators have pushed for legislation banning proof-of-work mining. .

"As soon as you start saying to the energy companies 'oh, you can do it with your power,...